Mizuho Securities USA LLC Sells 21,676 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• Mizuho Securities USA LLC reduced its stake in Boston Scientific by 15.5%, owning 118,009 shares valued at approximately $11.9 million after selling 21,676 shares.
• Notable insider selling occurred with EVP Arthur C. Butcher selling 17,313 shares and Director Edward J. Ludwig selling 4,000 shares, indicating significant declines in their ownership stakes.
• Boston Scientific reported a quarterly revenue of $5.06 billion and earnings per share of $0.75, exceeding analysts' expectations and reflecting a 22.8% increase year-over-year.

Mizuho Securities USA LLC reduced its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,009 shares of the medical equipment provider's stock after selling 21,676 shares during the quarter. Mizuho Securities USA LLC's holdings in Boston Scientific were worth $11,905,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Colonial Trust Co SC raised its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at about $26,000. Y.D. More Investments Ltd bought a new stake in shares of Boston Scientific in the 1st quarter valued at about $27,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Boston Scientific in the 4th quarter valued at about $31,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BSX. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Finally, Truist Financial upped their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $117.50.

Boston Scientific Stock Down 0.2%

NYSE:BSX traded down $0.21 during trading hours on Tuesday, reaching $102.54. The company had a trading volume of 6,446,739 shares, compared to its average volume of 7,614,445. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a market cap of $151.94 billion, a price-to-earnings ratio of 61.04, a P/E/G ratio of 2.48 and a beta of 0.66. The business's 50-day simple moving average is $103.52 and its two-hundred day simple moving average is $102.07. Boston Scientific Corporation has a twelve month low of $75.53 and a twelve month high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. On average, equities analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director directly owned 18,479 shares of the company's stock, valued at $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by insiders.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.